KKR makes debut on NYSE

By Reuters
Posted July 15, 2010 at 9:16 a.m.

Storied buyout firm Kohlberg Kravis Roberts & Co made its long-awaited debut on the New York Stock Exchange Thursday, and its shares moved slightly higher in the first few minutes of trading.

The listing on the Big Board brings a wide investor audience to the iconic private equity firm and could be a bellwether for rivals looking to follow suit.

KKR switched from Amsterdam-based Euronext to the NYSE, joining rival Blackstone Group, which went public in 2007.

KKR shares opened at $10.50 and rose to $10.65 in morning trading. Blackstone shares were also slightly higher, rising 6 cents to $10.34.

“Today’s NYSE listing is an important milestone for KKR and will provide an opportunity for investors to share in the value being created by our firm,” Henry Kravis and George Roberts, co-founders and co-chief executives, said in a press release.

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